Vestis (VSTS) Scheduled to Post Quarterly Earnings on Wednesday

Vestis (NYSE:VSTS) is scheduled to be announcing its earnings results before the market opens on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.10 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Vestis Price Performance

VSTS opened at $12.10 on Tuesday. The company has a debt-to-equity ratio of 1.69, a current ratio of 2.51 and a quick ratio of 2.16. The firm has a 50 day moving average price of $12.15 and a 200-day moving average price of $15.90. Vestis has a twelve month low of $8.92 and a twelve month high of $22.37.

Vestis Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 2nd. Investors of record on Friday, June 14th were paid a dividend of $0.035 per share. The ex-dividend date was Friday, June 14th. This represents a $0.14 annualized dividend and a yield of 1.16%.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Barclays cut their target price on shares of Vestis from $19.00 to $10.00 and set an “underweight” rating on the stock in a research report on Friday, May 3rd. Stifel Nicolaus reissued a “hold” rating on shares of Vestis in a research report on Friday, May 3rd. William Blair began coverage on shares of Vestis in a research report on Friday, May 31st. They set a “market perform” rating on the stock. Robert W. Baird cut their price objective on shares of Vestis from $24.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group cut their price objective on shares of Vestis from $20.00 to $11.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Vestis presently has an average rating of “Hold” and a consensus target price of $16.38.

Insider Activity at Vestis

In other Vestis news, major shareholder Corvex Management Lp bought 622,346 shares of Vestis stock in a transaction on Wednesday, May 8th. The stock was bought at an average price of $10.43 per share, with a total value of $6,491,068.78. Following the completion of the acquisition, the insider now owns 16,591,833 shares in the company, valued at $173,052,818.19. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Timothy R. Donovan purchased 12,975 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was acquired at an average price of $11.57 per share, with a total value of $150,120.75. Following the purchase, the executive vice president now directly owns 48,875 shares of the company’s stock, valued at approximately $565,483.75. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Corvex Management Lp purchased 622,346 shares of the business’s stock in a transaction dated Wednesday, May 8th. The shares were purchased at an average cost of $10.43 per share, with a total value of $6,491,068.78. Following the purchase, the insider now directly owns 16,591,833 shares in the company, valued at $173,052,818.19. The disclosure for this purchase can be found here. Insiders have bought a total of 982,570 shares of company stock worth $10,862,057 in the last three months.

About Vestis

Vestis Corporation provides uniform rentals and workplace supplies in the United States and Canada. Its products include uniform options, such as shirts, pants, outerwear, gowns, scrubs, high visibility garments, particulate-free garments, and flame-resistant garments, as well as shoes and accessories; and workplace supplies, including managed restroom supply services, first-aid supplies and safety products, floor mats, towels, and linens.